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Haakon was born at 2:14 pm[1] 20 July 1973 at The National Hospital in Gaustad, Oslo, the only son and younger child of Crown Prince Harald and Crown Princess Sonja. His father was the son of the reigning Norwegian monarch, King Olav V. At birth he was named Haakon Magnus, and it was stressed in the announcement that he would go by the name Haakon.

He was named in honor of his paternal great-grandfather, King Haakon VII, six other Norwegian kings of the same name[1] and his maternal uncle Haakon Haraldsen. When Haakon was 18, his grandfather Olav died, leading to the ascension of his father as King Harald V and himself as crown prince.

Haakon has one sibling, Princess Märtha Louise (born 1971). In 1990, the Norwegian constitution was altered, granting absolute primogeniture to the Norwegian throne, meaning that the eldest child, regardless of gender, takes precedence in the line of succession. This was not, however, done retroactively (as, for example, Sweden had done in 1980), meaning that Haakon continues to take precedence over his older sister. He is also in the line of succession to the British throne, albeit highly removed, as a great-great-grandson of Edward VII.

Haakon served in the Royal Norwegian Navy undertaking his first-level officer's education at the Norwegian Naval Academy, followed by a year aboard missile torpedo boats and other vessels. He then went abroad, receiving a Bachelor of Arts degree in political science from the University of California, Berkeley in 1999.[6] Haakon later attended lectures at the University of Oslo and took the Norwegian Ministry of Foreign Affairs' civil servant introductory course in 2001. He completed his education in 2003 at the London School of Economics, where he was awarded an MSc in development studies, specialising in international trade and Africa.

As of 15 November 2013, in the Royal Norwegian Navy his officer rank is Admiral, and in the Norwegian Army and the Royal Norwegian Air Forcehis rank is General.[7]

On 1 December 2000, the Royal Court announced the engagement between Crown Prince Haakon and Mette-Marit Tjessem Høiby. When the engagement was announced, many Norwegians felt that the Crown Prince’s choice of wife was inappropriate.[8] This was primarily about her being a single mother, but information concerning her involvement in the Rave scene in Oslo, which included a significant drug-subculture, also added to the controversy.[9] In addition, the father of her child was convicted of drug-related offences.[8] In a heartfelt press conference before the wedding the Crown Princess explained about her past, saying among other things that her youthful rebelliousness might have been stronger than most young people.[8]

Although some still find her inappropriate as a future leader of the country, the issue of Mette-Marit's past has largely been laid to rest in Norwegian public discourse.

Haakon and Mette-Marit spent their honeymoon in the United States and were in the USA on September 11, 2001, when a series of four coordinated terrorist attacks with airplanes by Islamic terrorists occurred. The couple had left for the United States shortly after their wedding but fortunately were not in New York City at the time of the attacks on the World Trade Center.[11]

The Skaugum Estate, situated in the area of Semsvannet, is the official residence of the Crown Prince and Crown Princess.[12]

Beginning Tuesday afternoon 25 November 2003, and ending in the evening of 12 April 2004, Haakon was the country's regent, during the King's treatment for cancer and the subsequent convalescence period. Likewise, Haakon was Norway's regent from 29 March 2005 until the King had fully recovered from the heart surgery he underwent on 1 April. This period ended on 7 June.

The Crown Prince and Crown Princess' Humanitarian Fund was established in 2001 in connection with the wedding of the Crown Prince and Crown Princess. The couple announced that they wished for donations to the fund as wedding gifts. The fund allocates funds to humanitarian projects in Norway and abroad. In Norway the fund mainly focuses on projects aimed at improving conditions for children and young people. Abroad, the fund mainly focuses on projects related to health and education.

In 2006, Haakon established Global Dignity with Pekka Himanen and John Hope Bryant. Global Dignity is an independent, non-political organization that promotes the universal right of every human being to lead a dignified life.

The Crown Prince was involved in several sports and seemed to take a particular liking to windsurfing. However, he has not engaged in serious competitions. Haakon is known as a big music fan. When he was younger, he attended music festivals all over Europe, including the Roskilde Festival in Denmark and the Quart Festival in Kristiansand, Norway.

He has also been part of Olympics ceremonies. In 1994, the Crown Prince and his father played roles during the opening ceremony in Lillehammer. While the King declared open the Games, the Crown Prince lit the cauldron, paying tribute to his father and grandfather having served as Olympians. He attended the opening ceremony in Vancouver.

He accompanied the band Katzenjammer in their recording of the song "Vi tenner våre lykter" (for the 2011 Christmas-themed album of the same name). Proceeds benefited "Their Royal Highnesses The Crown Prince and Crown Princess funds."[13]